A market research executive is usually one of the leaders of a marketing firm or a marketing department within a company. The main goal of a market research executive is to figure out what customers want and need and then to produce marketing campaigns based on the results of the research. The ways to reach that goal are what make up most of the duties of the job.
The market research executive position is often considered a middle management job. On one hand, he or she must delegate tasks to market researchers in the firm or department, while at the same time, he or she must report the findings of the firm or department to upper management. In this way, he or she acts as a liaison within the company.
Market research executives design research projects, deciding what research technique to use, what the scope of the research will be and how much the research will cost. The market conditions can be researched on a local, regional or national level to see how well a product or service might sell. Some of the research categories include demographics, buying habits and customer preferences. As part of the leadership role in the position, market research executives will then supervise and monitor the employees conducting the research.
In addition to designing research projects based on market conditions, market research executives might also research competitors' prices, sales and how they distribute their products. These executives also conduct research using customers' opinions about specific products. They might analyze data or statistics that have already been published elsewhere.
After the research is completed, the market research executive will analyze the collected data. He or she might then use this data to prepare a report of the findings, both for upper management and sometimes for the buying public as well. The data collected might also be used to keep track of current market trends and to predict future market trends. Survey or research results are often used to create marketing campaigns in order to make the product or service as appealing as possible to customers.
Leadership skills are important for a career as a market research executive, because designing and delegating tasks is a central part of the job. Many marketing firms or departments require that market research executives have a bachelor's degree from a four-year institution. Previous experience in sales and marketing, often as an entry-level market researcher, might sometimes be substituted in place of a four-year education.